|
Report Date : |
12.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
ABC COTSPIN PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C/4, First Floor, Nikumbh Complex, Sheth C G Road, Near Mudra House,
Ellisbridge, Ahmadabad – 380 006, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
21.09.2006 |
|
|
|
|
Com. Reg. No.: |
04-049132 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 49.612 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17121GJ2006PTC049132 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Exporter of Indian raw Cotton, Corn (maize) and Almond. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 130000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The
company has not filed its latest financials with the government department
for the year 2012. As per old record (2010), the profitability appeared low.
Financials for the year 2011 are also not made available. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow. The company can be considered for dealings with some cautions. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
B+ (Long Term Rating) [Suspended] |
|
Rating Explanation |
High risk of default Reason for Suspension : Absence of the requisite information from the
company |
|
Date |
February 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
C/4, First Floor, Nikumbh Complex, Sheth C G Road, Near Mudra House,
Ellisbridge, Ahmadabad – 380 006, Gujarat, India |
|
Tel. No.: |
91-79- 26420791 / 26564921/ 26462790 / 26569921 |
|
Mobile No.: |
91-9909947322 [Mr. Ashish B. Jobanputra] |
|
Fax No.: |
91-79-26420792 |
|
E-Mail : |
|
|
|
|
|
Branch Office: |
S-12/14, Cotton Exchange Building, Cotton Green (East), Mumbai –
400033, Maharashtra, India |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Ashish Suresh Jobanputra |
|
Designation : |
Director |
|
Address : |
Parmeshwar Krupa, Flat No. 8, 95, Tilak Road, Ghatkopar (East), Mumbai
– 400 077, Maharashtra, India |
|
Date of Birth/Age : |
03.02.1979 |
|
Date of Appointment : |
21.09.2006 |
|
DIN No.: |
02016955 |
|
|
|
|
Name : |
Mrs. Priti Ashish Jobanputra |
|
Designation : |
Additional Director |
|
Address : |
Parmeshwar Krupa, Flat No. 8, 95, Tilak Road, Ghatkopar (East), Mumbai
– 400 077, Maharashtra, India |
|
Date of Appointment : |
03.02.2009 |
|
DIN No.: |
02541189 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
|
|
|
Ashish Sureshbhai Jobanputra |
3745000 |
|
Priti Ashish Jobanputra |
5000 |
|
Hansaben N Modi |
50050 |
|
Shantilal D Haria |
60050 |
|
Bhartiben G Parmar |
50050 |
|
Bhupendra S Shah |
50050 |
|
Jayant H Salot- HUF |
50050 |
|
C J Corp Prop- Chandrakant J
Shah, India |
50050 |
|
Shilpa Deepak Sanghvi |
50050 |
|
Mahesh R Doshi |
50050 |
|
Kishormkumar M Shah |
50050 |
|
Amita S Mehta |
50050 |
|
Gajendra L Doshi |
50050 |
|
Ashwin F Mehta |
50050 |
|
Pushpa H Thakkar |
50050 |
|
Suresh B Parmar |
50050 |
|
Prasankumari Vishwabaram |
50050 |
|
Vijay C Shah |
50050 |
|
Sadhana Vijay Shah |
50050 |
|
Jaysukh N Wagela |
50050 |
|
Manisha L Shah |
50050 |
|
Purshottamdas S Danti- HUF |
50050 |
|
Rama D Thakkar |
50050 |
|
Sushila H Surana |
50050 |
|
Viraj Dilip Shah |
50050 |
|
Narendra J Shah- HUF |
50050 |
|
|
|
|
TOTAL |
4961200 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
76.00 |
|
Other top fifty shareholders |
24.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Exporter of Indian raw Cotton, Corn (maize) and Almond. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
State Bank of India, M. G. Road Branch, Gondal, Rajkot – 360 311,
Gujarat, India |
|||||||||||||||||||||||||||
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|||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A R Pandhi and Associates Chartered Accountant |
|
Address : |
405, 4th Floor, Kalash-II, Near Jain Templed, Behind
Navrangpura Post Office, Ahmedabad-380009, Gujarat, India |
|
Tel. No.: |
91-79-26568800 |
|
Fax No.: |
91-79-26568800 |
|
E-Mail : |
|
|
PAN.: |
AGWPP8124C |
CAPITAL STRUCTURE
As on 30.09.2011
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4961200 |
Equity Shares |
Rs. 10/- each |
Rs. 49.612
millions |
|
|
|
|
|
|
|
|
|
|
As on 31.03.2010
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
20.000 |
0.100 |
0.100 |
|
|
2] Share Application Money |
5.000 |
10.150 |
10.100 |
|
|
3] Reserves & Surplus |
7.619 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(0.039) |
(0.314) |
|
|
NETWORTH |
32.619 |
10.211 |
9.886 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
29.940 |
15.066 |
0.000 |
|
|
2] Unsecured Loans |
2.500 |
2.563 |
0.000 |
|
|
TOTAL BORROWING |
32.440 |
17.629 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.014 |
0.003 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
65.073 |
27.843 |
9.886 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.332 |
0.086 |
0.022 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.472 |
0.020 |
0.020 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
11.606
|
42.412 |
9.238 |
|
|
Sundry Debtors |
31.126
|
21.543 |
0.000 |
|
|
Cash & Bank Balances |
10.309
|
2.758 |
1.435 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
82.398
|
25.816 |
6.031 |
|
Total
Current Assets |
135.439
|
92.529 |
16.704 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
67.209
|
64.149 |
6.652 |
|
|
Other Current Liabilities |
2.298
|
0.204 |
0.002 |
|
|
Provisions |
5.711
|
0.495 |
0.270 |
|
Total
Current Liabilities |
75.218
|
64.848 |
6.924 |
|
|
Net Current Assets |
60.221
|
27.681 |
9.780 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.048 |
0.056 |
0.064 |
|
|
|
|
|
|
|
|
TOTAL |
65.073 |
27.843 |
9.886 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1794.076 |
51.432 |
250.946 |
|
|
|
Other Income |
43.617 |
0.366 |
9.256 |
|
|
|
TOTAL (A) |
1837.693 |
51.798 |
260.202 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
1700.119 |
44.400 |
0.000 |
|
|
|
Purchases |
0.000 |
0.000 |
253.535 |
|
|
|
Direct Expenses |
83.609 |
4.190 |
0.000 |
|
|
|
Administrative and General Expenses |
5.836 |
1.267 |
15.170 |
|
|
|
Selling Expenses |
11.191 |
0.939 |
0.000 |
|
|
|
Miscellaneous Expenditure Written off |
0.008 |
0.008 |
0.000 |
|
|
|
Increase/ Decrease in Stock |
0.000 |
0.000 |
[9.236] |
|
|
|
TOTAL (B) |
1800.763 |
50.804 |
259.469 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
36.930 |
0.994 |
0.733 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
24.917 |
0.477 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
12.013 |
0.517 |
0.733 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
0.045 |
0.013 |
0.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
11.968 |
0.504 |
0.732 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
4.110 |
0.229 |
0.270 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
7.858 |
0.275 |
0.462 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(0.040) |
(0.315) |
(0.777) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
7.818 |
(0.040) |
(0.315) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1652.900 |
Nil |
Nil |
|
|
TOTAL EARNINGS |
1652.900 |
Nil |
Nil |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Import Value |
61.908 |
Nil |
Nil |
|
|
TOTAL IMPORTS |
61.908 |
Nil |
Nil
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
368.34 |
27.52 |
46.25 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.43
|
0.53 |
0.18 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.67
|
0.98 |
0.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.81
|
0.54 |
4.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.05 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.99
|
1.72 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.80
|
1.43 |
2.41 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---- |
|
22] |
Litigations that the firm
/ promoter involved in |
---- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---- |
|
26] |
Buyer visit details |
---- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN:
(Rs. in Millions)
|
Unsecured
Loans |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
From shareholders/ Directors |
2.500 |
2.500 |
|
From Others |
0.000 |
0.063 |
|
|
|
|
|
TOTAL |
2.500 |
2.563 |
Financial Results:
The company achieved a Turnover of Rs.1794.076 Millions during the year. However, the rates of cotton exports were not much favourable and the margins were very thin due to stiff competition in export of cotton.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U17121GJ2006PTC049132 |
|
Name of the
company |
ABC COTSPIN PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
C/4, First Floor,
Nikumbh Complex, Sheth C G Road, Near Mudra House, Ellisbridge, Ahmadabad –
380 006, Gujarat, India Email: pandhi77@rediffmail.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10180456 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of India, M.G. Road Branch, Gondal, Rajkot-360311, Gujarat,
India Email: sbi.60073@sbi.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of Mortgage dated 02.12.2011 |
|
Date of
instrument Creating the charge |
02.12.2011 |
|
Amount secured by
the charge |
Rs. 370.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest N.A. as given as collateral. Terms of Repayment N.A. as given as collateral. Margin N.A. as given as collateral. Extent and Operation of the charge N.A. as given as collateral. |
|
Particulars of
the present modification |
The total Credit
Limits increased from Rs. 270.000 Millions to Rs. 370.000 millions against
the securities. |
Fixed Assets:
· Computer and Software
· Plant and Machinery
· Attendance Machine
· Digital Photo Copier M/C
· Mobile Phone
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
|
1 |
Rs.81.08 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
NID |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.